United States
activeFeaturedNeobankBroker
- HQ
- San Francisco
- Fee
- Free Checking & Savings
Varo Bank
The rare US neobank that is actually a bank.
Rate this app
7.2Solid
AlternativesOur take
Desk verdict
When a US page asks ‘is it a real bank?’, Varo is the yes. Chime and Current are the no-with-an-asterisk.
Varo Bank, N.A. received a national bank charter. That is the entire reason it sits above partner-bank fintechs on this register.
Varo Bank lists National bank charter under OCC in United States. On safeguarding we currently write: FDIC insured as Varo Bank, N.A. — not pass-through theatre. Holder / issuer line: Varo Bank, N.A.. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 1 live markets on the product. As we score the sticker: monthly No monthly on core checking; FX US domestic; ATM Allpoint network; interest APY on Varo Savings when conditions met. This desk would open it for: US users who want a neobank app without the partner-bank asterisk.
What it does well: It is a bank; FDIC on its own name; App-only distribution. What to watch: US only; APY with hoops; Brand quieter than Chime. Desk score 7.2 / 10 (safety 8.6, fees 8.2, features 7.6, app 8.2). Last verified 2026-08-01. Headquartered in San Francisco, United States; founded 2015. None of this is advice — it is a file so you can read the entity before the card colour.
Best for: US users who want a neobank app without the partner-bank asterisk.
Pros
- +It is a bank
- +FDIC on its own name
- +App-only distribution
- +Credit products in-house
Cons
- −US only
- −APY with hoops
- −Brand quieter than Chime
- −Support volume
Account facts
- Platforms
- iOS · Android
- Account types
- Bank account · savings
- Partner bank
- Varo Bank, N.A.
- Minimum balance
- $0
- Lowest monthly fee
- $0
- Who can open
- US consumers
- Availability
- United States
How it actually works
- Custody
- Insured bank deposit
- Local rails
- ACH / USD
- Built for
- Personal
- Settlement
- App-ledger instant; bank rails per corridor
- Review risk
- Bank-grade; still not freeze-proof
- Pay surface
- visa · physical · virtual · Apple Pay · Google Pay
Safety
FDIC insured as Varo Bank, N.A. — not pass-through theatre
Holder / issuer: Varo Bank, N.A.
- OCCNational bank charter · United States
Fees
- Monthly
- No monthly on core checking
- FX markup
- US domestic
- ATM
- Allpoint network
- Interest
- APY on Varo Savings when conditions met
Features
- –IBAN
- ✓Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- National bank charter
- Checking + savings
- Credit building
- Early pay
- App-only
Score
- Safety25%
- 8.6
- Fees20%
- 8.2
- Features15%
- 7.6
- App15%
- 8.2
- Global15%
- 2.6
- Support10%
- 6.6
Change log
Full logNo dated notes yet. When the licence, fees, or status moves, it lands here.
Available in
FAQ
Is Varo Bank a bank?+–
Varo Bank holds a banking-style licence (OCC). Still read the legal entity on the statement, not the app icon.
How is money protected?+–
FDIC insured as Varo Bank, N.A. — not pass-through theatre
Where is Varo Bank available?+–
We list 1 market desk on the desk. Residency and onboarding rules still sit with Varo Bank.
Card and wallets?+–
visa · physical · virtual · Apple Pay · Google Pay
Ratings and reviews
No published user reviews yet. The desk score still comes from licence, fees, and the product — not from a empty star average.
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